- The Belgian Chamber of Representatives is considering a bill to make the reduced VAT rate for demolition and reconstruction of residential dwellings permanent.
- The reduced VAT rate was originally enacted due to the coronavirus pandemic.
- The bill aims to remove the sunset date for the reduced VAT rate and repeal the condition on the total livable area.
- The reduced VAT rate applies to buildings used as sole, owner-occupied dwellings or supported housing buildings that constitute a single unit.
- The bill is intended to encourage the demolition and reconstruction of qualified residential dwellings.
- The reduced VAT rate is currently set at 6 percent.
- The bill is still under consideration and has not been passed into law yet.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
